About This Property
Montague Terrace offers 96 low-income units in Stuarts Draft, Virginia, with a mix of 56 two-bedroom and 40 three-bedroom apartments serving families. The property has been in service since 2012 and is non-profit owned with funding from HOME and 9% Low-Income Housing Tax Credits. Management and leasing information is available through the property contact.
Property Details
Fair Market Rent - Augusta County, VA
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $981 |
| 1 Bedroom | $987 |
| 2 Bedroom | $1,149 |
| 3 Bedroom | $1,616 |
| 4 Bedroom | $1,922 |
Income Limits - Augusta County, VA
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,950
- Very Low (50%)
- $24,950
- Low (80%)
- $39,900
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $28,500
- Low (80%)
- $45,600
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $32,050
- Low (80%)
- $51,300
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $35,600
- Low (80%)
- $56,950
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $38,450
- Low (80%)
- $61,550
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $41,300
- Low (80%)
- $66,100
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $44,150
- Low (80%)
- $70,650
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $47,000
- Low (80%)
- $75,200
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,950 | $24,950 | $39,900 |
| 2 Persons | $17,420 | $28,500 | $45,600 |
| 3 Persons | $21,960 | $32,050 | $51,300 |
| 4 Persons | $26,500 | $35,600 | $56,950 |
| 5 Persons | $31,040 | $38,450 | $61,550 |
| 6 Persons | $35,580 | $41,300 | $66,100 |
| 7 Persons | $40,120 | $44,150 | $70,650 |
| 8 Persons | $44,660 | $47,000 | $75,200 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Stuarts Draft, VA?+
The Fair Market Rent (FMR) for Augusta County, VA is: $981 (Studio), $987 (1BR), $1149 (2BR), $1616 (3BR), $1922 (4BR). Actual rent at subsidized properties like Montague Terrace is typically 30% of household income or less.
What size apartments are available at Montague Terrace?+
Montague Terrace offers the following unit types: 56 Two-Bedroom, 40 Three-Bedroom units, for a total of 96 units.
How do I apply for housing at Montague Terrace?+
Montague Terrace is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
What are the income limits for affordable housing in Augusta County, VA?+
For a 4-person household in Augusta County, VA, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $35,600, Low Income (80% AMI): $56,950. These limits are set by HUD and updated annually.
What is the price range for apartments in Stuarts Draft, VA?+
Based on Fair Market Rent for Augusta County, the estimated price range is: 2-bedroom: $1149, 3-bedroom: $1616. Actual rent at Montague Terrace may be lower for income-eligible households.
Who manages Montague Terrace?+
Montague Terrace is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at Montague Terrace?+
Montague Terrace primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Walk Score
Almost All Errands Require a Car
More Affordable Housing Near Montague Terrace
Springhill Village
Staunton, VA
108 UnitsWaterford Village
Staunton, VA
96 UnitsGypsy Hill House
Staunton, VA
100 UnitsValley View Seniors (Staunton)
Staunton, VA
71 Units
Staunton Redevelopment & Housing Authority
Staunton, VA
234 UnitsValley View Seniors Staunton
Staunton, VA
71 Units